• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Sunday, October 19, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
    • Football
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
    • Columns
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
    • Football
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
    • Columns
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

NNPC To Start Lifting From Dangote Refinery

by Chika Izuora
1 year ago
in Business
NNPC To Start Lifting From Dangote Refinery
Share on WhatsAppShare on FacebookShare on XTelegram

Nigerian National Petroleum Company Limited (NNPC Ltd) says the lifting of petrol from Dangote Refinery would likely commence on September 15 to comply with the timeline provided by the refinery.

Advertisement

It also assured that the present queues at filling stations would ease soon as measures are being implemented to ensure uninterrupted distribution across the length and breadth of the country.

The company further stated that foreign exchange (forex) illiquidity has been a significant factor influencing the fluctuation in prices of Premium Motor Spirit (PMS), also known as petrol which are governed by unrestricted free market forces, as provided for in the Petroleum Industry Act (PIA).

Advertisement

Speaking on a national TV on Thursday, the executive vice president of Downstream, NNPC Ltd, Adedapo Segun explained that the current fuel scarcity was expected to ‘subside in a few days as more stations recalibrate and begin selling PMS.’

He said, Section 205 of the PIA, which established NNPC Ltd, stipulated that petroleum prices were determined by unrestricted free market forces.

According to him, “The market has been deregulated, meaning that petrol prices are now determined by market forces rather than by the government or NNPC Ltd. Additionally, the exchange rate plays a significant role in influencing these prices.”

RELATED NEWS

Italian Court Upholds Prison Sentence For Prosecutors In Eni-Shell Nigerian Oilfield Corruption Case

Sterling Bank Reaffirms Commitment To Africa’s Food Security, Sustainable Agriculture

States Court Global Investors In London, Dubai, Abu Dhabi

Snake Island Port, Port Authority Strengthen Partnership On Infrastructure Development

On the commencement of lifting PMS from the Dangote Refinery, Segun said, the NNPC Ltd was awaiting the September 15th timeline provided by the refinery.

 

Segun, who said no right-thinking individual would be comfortable with the current fuel scarcity, added that, the NNPC Ltd had nearly a thousand filling stations nationwide and was collaborating with marketers to ‘ensure that stations open early, close late, in order to maintain adequate fuel supply to meet the needs of Nigerians.’

 

He assured Nigerians: “We are also engaging relevant authorities to ensure product diversions are prevented and timely deliveries to all stations are ensured. The scarcity should ease in the next few days as more stations recalibrate and begin operations

 

 

Join Our WhatsApp Channel

SendShare10217Tweet6386Share

OTHER NEWS UPDATES

Italian Court Upholds Prison Sentence For Prosecutors In Eni-Shell Nigerian Oilfield Corruption Case
Business

Italian Court Upholds Prison Sentence For Prosecutors In Eni-Shell Nigerian Oilfield Corruption Case

17 hours ago
Sterling Bank Launches N2bn Private University Scholarships For Nigerian Youth
Business

Sterling Bank Reaffirms Commitment To Africa’s Food Security, Sustainable Agriculture

17 hours ago
States Court Global Investors In London, Dubai, Abu Dhabi
Business

States Court Global Investors In London, Dubai, Abu Dhabi

17 hours ago
Advertisement
Leadership join WhatsApp

LATEST UPDATE

Police Urge #FreeNnamdiKanu Protesters To Obey Court Order, Warn Against Violence

2 hours ago

After Gaza War, Netanyahu To Seek Re-election

2 hours ago

Anambra Guber: PVC Collection Exercise Begins October 22

3 hours ago

Fear Of Protest Stops Nigerian Military From Seizing Power From Civilians — Sowore

3 hours ago

Imo Police Name Officers Involved Viral Cult Video

4 hours ago
Load More

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
    • Football
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
    • Columns
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.